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economy, 150 milon workers only now at about a 9 or 10% union total labor force, so, on relative basis weould be much better or worse time since 1980 whi we were opposo 26, 27, in the states, intriguingly, the states are not right to work states where unions can force a company to, people to pay dues et cetera, those states are falling behind. the empirical evidence, the re these guys get power the less the jobs get created. >> looking forward, not just now. we know that unions feel more empowered and their presidential candidate won the white house and union leaders saying they're going to congress and ask for easier ways for companies to become unionized. so, can we expect to see more of these plays against companies? >> absolutely, for the exact reason you noted. unions were obviously a big supporter of obama and the liberal agenda, and rightly so because they've worked nicely with each other, but as unions become bigger and bigger, bigger and the 9, 10% that toby said, it tends to work the opposite of what we want to see happen to jobs and unemployment. we want to see unemployment
economies because so many manufacturing and technology jobs are moving, whether it is a matter of costs for going where the trained work force is. we're fortunate to have to governors here to talk about how that change affects their jobs and what they're doing to jump- start their economies which compete with one another. this could be fun. let me start with our guest. governor hickenlooper. i knew that was going to happen. most of us here are pretty much aware of california's budget crisis. can you give us a quick briefing on where colorado is and what you are trying to do to turn things around? >> our budget is just as dressed as almost every state in the country. we have been working trying to control costs, get our pension funds in line, our state employees have not had a raise in four years. it has been difficult all the way around. the real challenge has been to try and turn public sentiment and get people to recognize it without a strong economy. it will not solve any of these problems. we have been relentless in what we did, the bottom up process and we asked them what they want
, it is not a recession, it has been building for decade-sapping the ability of the american economy to grow, and the average american to rise. to make the u.s. less competitive, less attractive for business, we go back to the fiscal cliff discussion over and over again because unless we get the economy really moving and growing in a long run, these budget problems will occur over and over again. we have identified eight areas where we find, these things would move the needle in a reasonable time frame, two or three or four years we start to see impact and there's quite bipartisan support. and the sustainable budget compromise. number 2, easing immigration now. we need a broader immigration reform, but it is one of the abilities to move rapidly to inject skill to the economy to fill jobs we badly need to fill to sustain our growth. it is not long term solution to the skill problem in america but a critical step we need to take to move the needle. we have got to simplify and realize the corporate tax code. everybody agrees. we just did a survey that included a loss of members of the general p
economy. and correspondent steve brown kicks off our coverage tonight. >> and on thanksgiving thursday to be first in the doors at midnight on plaque friday. >> and the unofficial start of the holiday shopping season. >> we have our route. >> and toys "r" us, target, home goods. >> kohl's, breakfast. >> black friday is definitely the kickoff to the playoffs for us, if you think of it as a sporting event and it's a big day, we always want to come out really showing our guests what we have here and have a great start to the playoffs, yeah. >> and with retail sales a huge factor in the not steady u.s. economy, the shopping is encouraging. >> we expect sales to rise 4% this year, a little lower than last year, but you know, we think we really believe that consumers are feeling a lot more confident this year. >>, but for all the folks battling the black friday crowds, do they get the best prices. >> sometimes i think you can get a better deal other times, black friday is kind after gimmicky things. up to a third of the door busters items today were cheaper earlier in the year and as far as
is to talk about the economy. but i would say something is. romney only emphasized -- very quickly. we cannot run only on an economic message. we have the full conservatives on social issues, on the national security, and on the economy. spent and aspirational. aspirational a mechanism where you are free to go as far as you want to go and to do what you want to do. and you are right about the hispanic community, especially they are very and trunk -- entrepreneurial. guess what. they start liking free government less. >> unfortunately, we're out of time to want to thank you all for coming today. please join me in thanking our panelists for this terrific presentation. [applause] [inaudible conversations] >> tonight in primetime we get a closer look at the presidential election. we have from president obama's former campaign manager and republican strategist steve smith. that's and university of delaware and starts at 8 p.m. eastern. here on c-span2, author mark friedman talks about how more baby boomers are entering into a second careers. he's the author of the big shi shift. that's also at 8 p
's entire economy. we can't afford it and we can't afford to leave it intact. so try as they might, remember the last congress republicans passed a lot of bills out of the house of representatives that tore apart obama care. as even the president calls it now. they didn't go anywhere in the senate and meanwhile, alex, after the thanksgiving break, the principles are expected to get back together to begin negotiating in earnest. as you're right the clock is ticking. just a little bit more than one month to go before the nation heads over that fiscal cliff. al alex? >> 38 days and counting. thanks so much. let's go from the white house to the middle east now. palestinians and israelis are keeping a cease-fire alive. but many call the truce extremely fragile. an attempted border breach threatened the calm yesterday. israeli forces shot and killed a palestinian man. he was one of hundreds testing israeli security at the border. nbc's martin fletcher is live for us in tel aviv. good saturday morning to you, martin. can this shooting jeopardize the cease-fire? and then when does the next phase beg
to the financial system. >> steve, if only the market could focus on just the economy, which actually seems to be chugging along okay. if you look at durables, consumer confidence, the ongoing recovery and housing, it's the overhang of the cliff that's spooking everybody. >> yeah, we've had somewhat better numbers. the new home sales today, not great. maybe sandy affected even though the government said it wasn't. the economy's okay. it may be more of a 2% plus economy in the fourth quarter than is being given credit on the street. it's not gang busters. the question has been for a long time -- by the way, there's some headlines from the beige book. you can see it really did affect the northeast, new york, and new jersey especially. so we'll see some of that in the data in the months ahead. we'll be seeing some rebuilding going on. you know, i would not make a call here on the economy, scott, to say go ahead and invest in the economy. after the fiscal cliff everything is fine. i think there's a reason for cautious optimism, but i don't think there's a reason to think it's going to go gang b
on the horizon. that's where we begin this morning. how confident are you about the state of the u.s. economy? what steps are you taking to prepare for the potential impact if the u.s. goes off the fiscal cliff? give us a call this morning. you can also catch up with us on all your favorite social media sites, twitter or facebook. or e-mail us. thismorning to you on wednesday, november 21. we are talking about federal reserve chairman ben bernanke's comments yesterday about the fiscal cliff, and getting your thoughts on bthe u.s. economy. and this headline -- also, in the financial times -- to tell little bit more about ben bernanke's , and sister day we turn to david clarke of "politico," their financial services editor. thanks for joining us. guest: thanks for having me. host: what is making the most waves from his speech? guest: in the past he has warned that congress and the president's path to take care of the fiscal cliff. yesterday he said it is not simply doing it but how they do it, making a point that voters will be looking to see if they can do this in a cooperative manner, whether
about how enacting comprehensive immigration reform can help on the jobs and economy issue. simply put, immigration reform would create a fair, humane and effective system that levels the playing field for all workers. right now our immigration system doesn't work for anyone but unscrupulous employers. we need to take the power out of the hands of those who are exploiting our current immigration situation and put it back in the hands of workers and fair and honest employers. if all workers have a legal status, employers can't skirt labor laws said they have to pay fair wages and abide the rules. immigration reform is the right thing to do as well as the economically smart thing to do. children should not have to live in fear of their parents deportation every day of their lives and some of the hardest working and most honorable people in our society should not have to be subject to exploitation and harassment. finally, i would just like to say that i'm truly appreciative of the support we have received from the urban league and other african-american leaders on this issue. i know that
. >> it is doing it now with china and japan. you have to of the biggest economies in the world in a nightmare situation that raises the fundamental question and up in in this myth that economics draws people together. part of the title today is "mischief or miscalculation?" during the cold war, you could have 17 different spheres of contact with the soviets and it two blew up, you could still have 15 others. there was a lot of heavy investment in figuring out how to court made, communicate, due to escalation and talk if things got bad. in this era, when i look at the amount of time -- the obama administration more so than the bush administration, when officials meet throughout the region, and the discussion attempt to correlate with china, there seems to be a lot of effort to try to coordinate. jim steinberg was the fourth member of this panel, looking at the island dispute and said, they were shocked and surprised by the level of miscommunication, miss assessment, and the dangers of that between china and japan. it raises the question of whether or not -- i agree. i know china wants respect
spain to take the bailout, but of course many things can go wrong including the economy could be even worse than what we just discussed. in that case i think spain would ultimately have to apply. but i don't think they'll do that over the coming weeks. >> all right, ricardo, good to talk to you. thanks for that. don't forget, of course, if you have any thoughts, questions, comments, e-mail us at cnbc.com. it's thanksgiving to u.s. markets, so they're closed, so that means we have a special three hour show for european and asian viewers today. still to come, india's parliament has opened its winter's session for what could be a tough first day back to business for the prime minister. we'll find out what opposition he faces from our correspondent in mumbai. we'll also find out why asian casinos are putting their chips on the table despite slow economic growth in the region. and obama saves cobbler, but many of his turkey friends will end up on the table today. we evaluate the cost of a thanksgiving dinner with a soft commodities expert. all of that and lent more coming up over the cours
continue to believe that the u.s. economy is in pretty good shape. the consumer's in good shape. housing bottomed about 14, 15 months ago. companies like home depot, which recently exceeded expectations, raised long-term profitability goals, and portly, frank blake, who's orchestrated a great turnaround has noted that housing has finally gone from being a head wind to a tail wind. we like the asset management companies like waddell and reed. their flagship fund is in the eighth percentile year to date. industries and companies like retail, small banks, and home builders, we think are going to be good places to be as we go into the new year. >> all right. we will leave it there. rick santelli, final word from you on what drives fixed income and treasuries toward year end. same issues, i guess. >> well, i think next week, first of all, we have a gdp revision. second time around on third quarter. many are calling for a big upward revision from 2% to 2.8. if that actually happens, i think that would be a rather compelling reason outside of quiet holiday markets to see some sustained selling
. this is someone else on the investment committee said. is point was the transformation of the world economy lift poor people in china and india into the middle class and one american drops out of the middle class, that is not such a bad trade, 4-1. i spoke to a cfo of a u.s. technology company and this is a person with a charming and lovely life story, his parents were immigrants and he told me his parents told him and his brother when they immigrated that they were temporarily for. imagine that, temporarily poor and sure enough complete rock stars, both of them went to new york. and the mass club, one brother in silicon valley and another is derivative on wall street. the technology cfo, his parents were really angry at him because he dropped out of a ph.d. program in applied math at stanford having gone to harvard to start becoming plutocrats. very hard-working guy, did smart, did great, this is what he said about the american middle-class. we are demand higher paycheck than the rest of the world. if you are going to demand ten times the paycheck you need to deliver ten times the value. it sou
government it will pay for, regardless of the impact on jobs or the economy, or america's standing in the world. these are the ones who have recklessly ignored the fact that we can't keep running trillion dollar deficits every year and throw a tantrum if someone suggests that maybe the taxpayers shouldn't keep subsidizing ever last program washington ever dreamed up. they are reckless and ideological approach threatens our very future. and anyone who is serious about solving the problems we face should ignore all of that starting with the president. megyn: meantime some of the president's supporters unleashed and ad blitz targeting key lawmakers reportedly spending close to $300,000 on an ad buy that talks about increasing taxes but leaving spending alone. here is part of that. >> how do we move our country forward and reduce the deficit, by creating jobs and growing our economy not by cutting programs that families rely on most. megyn: join me now is stu varney, who is host of varney & company. and chris stirewalt. you have all the unions unleashing and ad blitz to target the home
a lot of -- >> he's got a cleaner slate than four years ago with an economy. >> start building the sub structure to show actual progress. a debate in the white house is, like, it's a long term thing, health care, for instance, but showing results any time soon to people in need. well, that was the long term game. of course, the stimulus was the short term game, but, still, americans don't feel the effects. some of it is marketing, some of it is real, of a lot of what obama's done. i think the key now is, because of the re-election, he'll actually have time for americans just to go, well, i feel a little better, and it's substantive, it's real. my health insurance -- >> that was true of clinton, and david said in the conversation that clinton adopt seize the reigns of a -- didn't seize the reigns of a second term. >> seized something else instead. [laughter] [applause] >> that was good. >> the whole year before wasting 1997 before the scandal broke will. >> welfare reform -- >> asking dave because we're in biography here. i'm fascinated by them figuring out who they were in childhood. y
. it is is sapping the ability of the american economy to grow and it is topping -- zapping the ability of the average american to rise. until we look at the major core issues that are making the u.s. more attractive to business, we will go back to the fiscal cliff discussion over and over again. unless we can get our economy really moving and growing in the long run, these will just occur over and over again. we identified eight areas, as you mentioned, where we find there is broad consensus where we believe these things would really move the needle in a reasonable time frame, two, three, four years. there is some real bipartisan support. the first is the need of a sustainable budget compromise. that is widely accepted by all. two, easing on highly skilled immigration now. yes, when a broader immigration reform, but this is one of the abilities to really move rapidly to inject skills and to the economy and fill jobs badly need to be filled to sustain our growth. it is not a long-term solution and there, but it is a critical step we can take now that would really move the needle. we hav
that would avoid that potentially devastating fiscal cliff that is looming over the u.s. economy right now. the president is meeting with small business owners at the white house today. he had a series of meetings with different business leaders over the last week. despite the warnings that the talks are stalling on capitol hill stuart varney joins me now, host of "varney & company" on fox business network. >> good morning, martha. bill:. martha: what are you hearing how this is going? >> it is impasse basically. the republicans said yesterday they accommodated the democrats they will agree to get more money from wealthy people from higher taxes but mitch mcconnell, senate republican leader, he says there has been no similar compromise from the democrats or the president. he says they are still holding out for higher tax rates on the rich and he says the radical left is prescenting the democrats and president and agreeing to serious reform from medicare. martha, i have to tell you. i got new numbers from medicare, from trustees, actually. medicare has to pay out in the future $42 trillion.
stores that are struggling in a tough economy. local retailers are looking for a boost they need. and ther joining us from new york with more on this effort. >> anna. >> hey, there. today is small business saturday and carries more significance. and the northeast is still reeling economically from super storm sandy. we are here in long island and the owner said sandy could not have hit at a worse time. she makes 40 percent of the sales and said it will be impossible to make up the sails and is thankful because all of the ventors are letting her delay payment. >> i was in tires actually over that. i was scared. i don't want to lose my credit and good name and repitation. they are sticking by me. >> this business is like your child. >> this is my other home. this is it my other home. >> from staten island to long island ther urging to give back and help neighborhoods devastated by the storm. it is it estimated 100 million people participated in the growing event. and the economic impact and in the 50 billion range and 12 billion in new york city alone and 20 billion. total from los
of the pattern for the s&p 500. lower than less than three points. >> so with all the good news on the economy out today, still no rally for stocks. is it really still all about the fiscal cliff for investors right now? let's talk about that in our clo"closing bell" exchange. steve liesman will have breaking news momentarily. steve, do you have that? >> yes, i do. what we have is a report from the new york fed on consumer finance. what the news shows is that overall, consumer credit outside of real estate is up just a bit. most of that, by the way, is student loan debt, being up about $42 billion inside that $2.7 trillion number. overall, mortgage debt is down and overall debt is down. the basic gist of the details, bill, is that consumer credit continues to decline overall. delinquencies are down and bankruptcies are down. balance sheet repair continues. a little bit more willingness of the consumer to take on some debt and a lot of it -- >> that's very interesting, steve. let me ask you something, david. >> i want to make one more point, which is that when you talk about how much the dow is
or economy. the largest beneficiary would be california. we want to see what the cutting edge is. most of a still look for california. -- loomost of us still look to california. what governor brown said about the traditional politics is all about taking the thing in making it fresh. to a certain extent, i tried to be a writer in college. i failed miserably. a professor said everything has been set but not everything has been said superbly. even if it had, everything must be said freshly again and again. you have to see a fresh lead to a certain extent. the real issue with -- in terms of asking the president, what are the things that matter most, a bass part of those profits would be invested in california. colorado would have a significant -- pretty much every state in the country would benefit. you look at the companies based in silicon valley. they have offices, you want to expand your business, think about those young people in colorado. everything -- stated say the same thing. that money would get spent over the country very rapidly. >> thank you. governor brown. >> it is a good id
send the entire world economy into a recession. steve moore is here, senior economics writer at the "wall street journal." he joins us now from washington, d.c. will they prevent it, steve? >> the good news is, no one should ever listen to what they say. but, you know, these go sheesh and keep rolling on. my sources on capitol hill say that there is still a lot of gridlock there. the main thing, in my opinion, can they reach a deal on these taxes that does not require all of the requirements of business to go up? dagen: do think that happened, because again, there are so many taxes that we need to worry about, the lawmakers never fixed it for 2012. if they do not fix that, it will hit 33 million americans. the payroll tax cut. will that go away, because, again, it was temporary ones, temporary twice and it will still be a higher tax. >> im so glad you brought up the amt. nobody has really been focusing on this. that would be bigger than even extending the bush tax cuts. you are talking about $2 trillion in additional taxes on americans over the next decade if we do not fix th
40. >> if you're trying to forecast the economy, what matters is what america actually decides, not what it should decide. what it's actually going to decide is a small bargain that gets us through 2013 and doesn't fix the problem. that's the reality that we're going to face. >> so your gdp under that scenario for 2013, 2014, 2015 -- >> yeah, for 2012, we'll have about two quarters of 1.5%. i think we'll get some resolution by mid year so we'll grow 2.5%, maybe 3%. >> mid year. >> yeah. and then in 2013, i think you can grow 3%, maybe more as long as you have -- >> if you just let it ride? >> that's my forecast. we're not going to fix these fundamental problems except over a ten year period with 10 or 15 pieces of legislation. >> medicare alone is 42 trillion unfunded. social security 20.5 trillion. and then you add the 16 that we know about to that. none of these are in black and white those first two that i mentioned. you add it all together, 86.8. >> a lot depends on what happens to medical care. i mean, one thing that could change these estimates tremendously, find a cure f
to see the economy plummet and then say we tried and we have to give in on that. that's an awfully dangerous game to play. >> that's sad. >> dana, we have word that mitt romney is going to the white house tomorrow. oh, to be a fly on the wall over there. what do you expect that meeting to sound like? >> awkward. >> is this for show? because obama basically said that he would or do you really expect this to be a meeting of the minds and actual sort of agenda to come out of it? >> yeah. well, the white house announcement is terrific. it said it's a private meeting in the private dining room and no press. >> right. >> very clear that they won't want anything to come out of it. i suspect it will be one of those photo releases of them strolling down the colonnade or something looking like good friends. >> that's what i thought. >> this is a requirement. they agreed to do it. neither one particularly likes the other. obama, you know, in his press conference said he likes the way mitt romney ran the olympics. perhaps asking him to do something in the sporting field. >> maybe he'll give hi
consumer giving the economy a big lift or will fears about the fiscal cliff get in the way? a roundtable discussion is up next. you saw sears and kmart president kick off the open at the nasdaq. can his store ring up strong sales this holiday season? we'll head to break and look at this morning's early movers on wall street led by best buy up 1.6%. with the fidelity stock screener, you can try strategies from independent experts and see what criteria they use. such as a 5% yield on dividend-paying stocks. then you can customize the strategies and narrow down to exactly those stocks you want to follow. i'm mark allen of fidelity investments. the expert strategies feature is one more innovative reason serious investors are choosing fidelity. now get 200 free trades when you open an account. if we want to improve our schools... ... what should we invest in? maybe new buildings? what about updated equipment? they can help, but recent research shows... ... nothing transforms schools like investing in advanced teacher education. let's build a strong foundation. let's invest in our teachers so
and it is going to take all of us working together because it would damage this economy if we have this kind of huge tax increase. but our democratic colleagues, all they want to talk about is, more taxes, more taxes, more revenue. they will not telling us where the money is going? they're not assuring that the money will be used to pay down the debt like it is suggested. so we need to see those numbers, what they planned, before any discussion is appropriate it seems to me. martha: you know, i mean, does take it from both sides. if you look at the republican side, basically they want to see cuts in spending and real entitlement reform and perhaps revenue that comes from the relief of some loopholes that are out there so that, bob corker i know has suggested maybe there be a $50,000 cap on the amount of deductions you can take in your taxes. republicans want to get there that way, not by raising any rates, correct? does that stand steady, that thought? >> i think that's a lot, where a lot of our members are. if you can simplify the tax code. make it more flat, more like a flat tax. eliminate
that central bankers can't rescue the u.s. economy if it goes over the fiscal cliff. paul is president of financial capital. given that we're talking about this so much with these guys not around, all we do is we keep showing how much time we have as it's ticking down. when they do get back, paul, how do you think that the deal looks if they do put one together, and do they get it done? >> good morning, and happy thanksgiving to y'all. we all know it's getting done, whether it gets done before christmas or in january, a deal's going to get done. i think also everyone knows taxes are unfortunately -- taxes are going to go up. i don't know it's going to be at the 250 level. maybe at the 500 or million-dollar level. but taxes are going to go up and expenses are going to get cut. so we all wish they would stop the jawboning and positioning and politicking, sit in a room with dulls, both give in a little bit and move on. but they're going to push and push and push and the markets will push a deal to get it done. >> so if you were trying to decide what to do, would you just stand pat with eq
of our abilities to inject new skills into the economy to build jobs that need to be built in america to sustain our growth. it is critical step that we can take now. we have got to realign the corporate tax code. everyone agrees. we just did a survey that includes members of the general public. 70% of the general public believes we need to simplify. we cannot have the tax code that has higher rates and more complexity than anywhere else in the world. we have got to address the system that really hurts- innovation and high technology economy. we did not worry about those when we were doing well, but they are getting in the way of progress we have got to go through the process in a simpler and more logical and efficient way. this is the number one thing thousands of business people said was the biggest barrier to investing in the u.s. we have got to upgrade our infrastructure, but we have got to focus on those that are economically important. we have got to understand the things that are driving up the cost of doing business. we know what those are, but we need a plan for going forward
have something really worked out because look at what the economy -- look at where consumer sentiment is over the last couple months. i don't think they can really, you know, run the risk of that falling back. we made so much improvement over the last couple months. at least macroeconomicly, they can't run the risk of this thing going over. >> what does it mean for the stock market and how many different things are affecting it right now? i figure not knowing where tax policy is next year, some people know it will be hire, so they're probably just going to sell into december 31st. and then you've got continuing problems in europe, as well, morgan stanley has a report out about possible recession in 2013. what are the factors that influence the market at 13,000 and do you think it's a good time to ad money or take money out? >> short term, i think the feeling is that things are going to work out. so we'll be in this range here of in the s&ps 1390, 1420. i think if we break 1390, we get down to that next 1360 level will, again, there is so much money on the sidelines waiting to do somet
as the eu and imf agree on terms of debt sustainability. where does it leave the greek economy which has already shrunk by nearly a fifth? >>> and warren buffett on tv this morning saying he wouldn't sell a single share of stock even if he was guaranteed the u.s. goes off the fiscal cliff. just wait until you hear who he thinks should be the treasury secretary. >> we'll begin of course with the deal of the day. conagra foods has agreed to acquire ralcorp for $5 billion. $90 a share in cash. 28% premium to the closing price on monday. kayla tausche reported on potential for a deal between the two companies back in 2011. it creates the largest private label food company in north america. this is a big deal. >> yes, it is. it's big in size in terms of what we've seen in this market. look how excited he is. and they finally got it done. it's been one as you pointed out that was around in 2011. they couldn't get it done. that is conagra. they walked away. ralcorp stock price fell dramatically. they split the post cereal division from ralcorp. the two trade separately. so you did have a compan
of these mom and pop shops could tell us a lot about the entire economy. we'll take look into the future. i have a cold... i took dayquil, but i still have a runny nose. [ male announcer ] dayquil doesn't treat that. huh? [ male announcer ] alka-seltzer plus rushes relief to all your worst cold symptoms, plus it relieves your runny nose. [ sighs ] thank you! [ male announcer ] you're welcome. that's the cold truth! can i still ship a gift in time r christmas? yeah, sure you can. great. where's your gift? uh... whew. [ male announcer ] break from the holiday stress. ship fedex express by december 22nd for christmas delivery. hurry in this saturday and sunday for great deals. likehe lucid by lg, free. or the galaxy nexus by samsung, free. this weekend, get the best deals on the best devices on the best network. exclusively at verizon. >> heather: today is small business saturday. even president obama taking parted, taking his daughters to an independent bookstore in arlington, virginia today. this is why, small businesses are so important to our nation's economy. take a look at these numbers.
.s. economy. i thinkist the moguling being throw in front of it, our self-inflected issues, you know, last time around we sequestration. are we going to have sequestration 2? of course we'll put a band-aid, but we need leverage to have reform predicated to surrender on the band-aid. >>> we've got to go, guys. i've got to go with this. we've got to move on. this is the last hour of trading, so we've got to move here. thank you for your thoughts today. steve, thank you, you're voting on a committee of politicians. i find hope in that somehow. >> yeah. you're in the hopeful camp. >> hoping at the last moment they will do the right thing. >> was that a pig that just flew by? the market is slowly coming off the lows. >> instead the last time the markets closed in positive territory on black friday was 2008. let's see if we can do it again. we have full team coverage of where it's shaping up to be a jolly holiday season. >> our luxury or discount retailers. >>> and walmart workers threatening to walk off the job. are these protests having a real impact, or was it a lot of noise? we'll speak to o
of the u.s. economy. james has the latest on the planned walmart workers strike but, first, live from chicago. steve, hour the so-called brick and mortar stores versus online retailers? >>reporter: the overall retail picture looks like this, the national federations of retailers believes there will be a 4 percent increase in holiday spending this year over last year. in terms of the brick and mortar physical stores there was a movement away from some of the these just because of the size of the crowds. some folks cannot go out and battle the crowds but we have seen a return of folks who swore off the early bird shopping. >> i was going to go online and do my shopping from there but it worked out. >>reporter: there are a lot of folks that do online shopping and that is growing. one estimate is in holiday online shopping will be up 17 percent and 4 percent overall. >>gregg: the people working the stores. any trouble finding or keeping workers there? >>reporter: they have to go weeks and months to get folks prepared. we stopped in with a target in chicago area and they have worked on hav
. but the over all economy. this is a large cost. look at current recovery since june 2009 and since that time median incomes are down 4600 on average. during the recession. they were down on average 2800. and so it was a great cost. >> and when you hear free from the government reach for your wallet and you will be paying for it if you are a taxpayer. college students and parents fed up with soaring tuition and crying foul. but some in the forbes team say it is it great for students and could lower tuition . there is it a flip side you don't want to miss and that's next d. ♪ [ male announcer ] it's that time of year again. medicare open enrollment. time to compare plans and costs. you don't have to make changes. but it never hurts to see if you can find better coverage, save money, or both. and check out the preventive benefits you get after the health care law. ♪ open enrollment ends dember 7th. so now's the time. visit care.gov or call 1-800-medicare. >> live from america's head quarters. i am healther childers. new develop am middle east as violent protest erupted in egypt over preside
? >> they pitch them as free. but the over all economy. this is a large cost. look at current recovery since june 2009 and since that time median incomes are down 4600 on average. during the recession. they wer down on average 2800. and so it was a great cost. >> and when you hear free from the government reach for your wallet and you will be paying for it if you are a taxpayer. college students and parents fed up with saring tuition and crying ful. but some in the forbes team say it is it great for students and could lower tuition . there is it a flip side you lock p.m. eastern time and now bac to forbes on fox. just in time for the college football. new report shows that coaches are scoring big-time. froof them making two million bucks a season and a lot of parents and students are calling for cuts to help cut college costs. john, you say that is good for schools and students. you got to explain. this is a flip side. >> absolutely. parents and students need to relax and realize that football coaches get a fraction of all of the money. donations go up that pray for all of the other athletic team
-in-class fuel economy. engineered to move heaven and earth. ♪ guts. glory. ram. jon: fox news alert for you now. we are awaiting remarks from president obama. he is pushing his plan to try to avoid the year-end fiscal cliff. this speech comes ahead of a meeting between the president and business leaders later today discussing actions the white house says are aimed at growing the economy and finding a quote, balanced approach to reducing the nation's deficit. let's bring in our panel. mary katharine ham editor-at-large of hot air.com and fox news contributor. peter mirijanian former advisor to the clinton-gore and gore-lieberman campaigns. when the president arrives at the white house to speak, he will have people behind him, ordinary americans who reached out to the white house and want their $2,000 middle class tax cut preserved. republicans are saying this is essentially a campaign stunt, a campaign appearance kind of event of the he won the election. he should get on the business of governing. what do you say? >> well, one quick observation, jon. i think what you're seeing, what i think is i
the economy toppling back into recession. >> everyone i've had on this program, all the members of congress, have said to me, joanne, we have to get this done, of course it's going to get done. but we should remember it was a year ago today the grand bargain failed. so what's it going to take? >> you know, i think it might take the new congress being seated. i mean, if you think about it, you still have a lame duck congress so, while the election may have changed the atmosphere and sort of the story line for the members, the actual people themselves are still there. so they've not changed their ideologies at all. i think that the problem is that you have john boehner, president and mitch mcconnell negotiating with the exact same congress that they had when they couldn't make a deal the last time. so i think until the personnel change, i'm not sure you can get a deal. >> and juan kessler, the fact checker for "the washington post," has reported that, you know, you have to come from, like, some point point. you have to have a negotiating point to start with. he said democrats and republicans
, that will impact the economy in a devastating way. that's why i don't think you see any republicans moving on that. jon: doug, what do you think about that? >> well the rates we're talking about raising they would go back to where they were under president clinton and during the '90s i think most people would agree we had a pretty strong economy. certainly stronger on that the one george bush and liz cheney's dad brought us. look at the end of the day, you know this is going, it will have to be balanced and to get to $4.4 trillion, that is the kind of target number that the president has put out there you can't just do it on spending cuts. i'm not sure if you can do it just on capping deductions. that is what these guys are paid big bucks for to figure out. sit at table, do the arithmetic, get a final deal. jon: we had 9/11 during the bush administration and that had huge impact on economy and wars after it. doug and ron, thank you both. we started a question about the discussion of grover norquist. he will be neil cavuto's guest on "your world" at four become eastern time. here what he has to say
, they spent a lot of time thinking about the future. so in the next four years who can i trust on the economy, on social issues and foreign policy. and we live in a country that is even pli divided politically and we have close elections. our victory in 2008 was a landslide. it was clear this election was going to be closer, fwiven the economy and divisions in the country. with that being said, we still won electoral college, maybe not a landslide but a clear majority. our popular vote is 3% which is a healthy margin. and i think the reason we won is people understood where we had been economically. all of you have lived through the recession. this is not something that is an academic theory. everyone painfully lived through the recession. we are beginning to recover from that. the economy has created jobs over 5 fnt 5 million jobs which our economy is far too week but the electorate said i'm beginning to feel some progress. does that mean i'm satisfied? of course not. but i'm beginning to feel some progress and i think people thought it was a risk to go back and try economic policies that le
." >> a new holiday spending bonanza. americans are feeling more confident about our economy. will lead to the great of growth, and what could set us back? >> also, an arrest in a string of murders in new york city connected to one gunman. what we are learning about the man that police in new york city say was poised to strike again. and a large bird crashes through the cockpit plane of this airport. details of the scare in the air for the pilot and passengers. it's all "happening now." >> but first, the cease-fire truce may be fragile, but it appeals to be holding. i am heather childers in for jenna lee. >> and i am rick scott in for jon scott. with egypt's president mohammed morsi, it is a big test for the new leader. steve harrigan is live in cairo. some are saying that mohammed morsi is the real winner here. you have all sides facing the same person. americans giving him high marks for his mediation, even some israeli officials praising the president. as far as the mediation goes, there were some concerns about which direction he would say, a long-term member of the muslim brotherho
us a lot about the state of the consumer and the u.s. economy today. so we're turning to one of the most seasoned and respected voices on wall street for help. we have dana telsey. she is our guest host for the next three hours. andrew, i'll send it over to you. >> we begin with a visit to toyland and here is toys r us. it opened its doors at 8:00 last night. and we have toys r us ceo joining us right now from the company's flagship store in times square. good morning. >> good morning. >> so i read a report you you had a big line. what's it been like all evening? >> it's been great. we did have a big line. we're at 44th and broadway.line went all the the way to 45th street and then down 45th all the way to 6th avenue. it was huge. people came in in a real celebratory mood. people ate ice cream, relaxed with their kids. i've never seen a black friday like this before, but 8:00 hour worked really well for families. >> let's talk about sales. how did it go overnight? >> we're just starting. this is 5:00 a.m. on black friday morning. we're really just starting. we have about a b.
's thanksgiving pallad. we will show share how it happened. >> steve: want to see where our economy is going. look back to 1937 and franklin roosevelt and stewart varney will explain how history could repeat himself as he enters studio e. good morning to you, stewart. ♪ ♪ ♪ and feel like a green giant. ♪ ho ho ho ♪ green giant with thermacare heatwraps. thermacare works differently. it's the only wrap with patented heat cells that penetrate deep to relax, soothe, and unlock tight muscles. for up to 16 hours of relief, try thermacare. now we need a little bit more... [ male announcer ] at humana, we understand the value of quality time and personal attention. which is why we are proud to partner with health care professionals who understand the difference that quality time with our members can make... that's a very nice cake! ohh! [ giggles ] [ male announcer ] humana thanks the physicians, nurses, hospitals, pharmacists and other health professionals who helped us achieve the highest average star rating among national medicare companies... and become the first and only national medicare
on the fiscal cliff, chances are we get a slower economy next year because of the higher taxes and cutting spending? >> i want to touch on something that liz just said. i have tried to get her to play along with this game. >> i gave up long ago. >> she always resists me when i try to pin her down on the number. i guess she's smart. as you mentioned, a fellow from morgan stanley coming out saying, look, i blew it. it's a pain for me. i don't want to do this. i think what they're banking on is this whole fiscal cliff thing, the europe thing. all of the head winds for the market are never going to see the worst case scenario. i think just kind of the picture is this muddle through going forward. i called up today and tried to -- i talked to some of the most bearish people i know. they're all just kind of saying, yeah, we're going to muddle through. the fiscal cliff is going it get resolved one way or the other. europe is going to get resolve one way or the other. i think this is one of -- >> steve, he brings up a good point. consumers are not worried about the fiscal cliff. intraday trading t
did a wonderful job to keep the economy on track, hasn't it? >> greg: opposed to socialnism >> bob: opposed to misguided management. >> dana: even when the employees vote to not be in the union the union does this on their behalf. that is what we're supposed to believe. unions are feeling their oath. if romney would have won, they would have done it as well. the unions are declining so much with people part of them they trying to do what they can. they risk losing in court of public opinion. earlier today, they sat in sixth avenue to proest he had to come to work today. everyone was yelling at him and saying ridiculous. get up and get to work. >> greg: union of one. >> bob: you make a good point. the union membership declined dramatically. i don't know what you are worried about. you a right for a union and collectively bargain. >> greg: we have a right to travel. >> dana: you talk about prime minister benjamin netanyahu would risk going too far and losing support in the international court of public opinion. do you not agree that the union is doing this and to greg's point now eve
, but we have been around the south to understand -- th would be a great driver for our economy. we are over performing the rest of the world right now. if we can actually -- for the business community and the american people say we have our fiscal house in order for a 20 period and will still be able to invest in education and technology and rearch -- this will create the conditns for our growth to be stronger. this is going to get harry. these are big stakes -- the debt ceiling is concern to everyone. it is more amorphous for the average person -- this means if congress does not act, everybody in the country will pay more taxes. think about that -- $2,000 of the pockets of most americans, what that will do to consumption, confidence and small businesses -- this could not be more serious. i remain confident because t stakes are so high. we have a firm deadline. we wilmake some progress. i think what we need to do -- let's go for the big deal, let's go for something that we can say for a 10-20 year period, our country is on the way to sustainable fiscal path. the on the way it gets
hostage, but the economy as well. production can't continue as long as this uncertainty. >> alisyn: jonathan, they don't think that they are he' holding the american people hostage, they think they're standing on principle so when both sides think they are he' standing on principle, how are they ever going to meet in the middle by december 31st? >> well, and the president's standing on principle and standing on the wrong principle. he's standing on the principle that the rich have to pay for entitlement state. obama believes that the rich have to pay for his entitlement spending, the result of course is more redistribution, less wealth. less production and who will he blame when the time comes if the economy is weak? he'll blame the rich of course. yes, people are standing on principles and i think they are he' standing on the wrong principles, that's government spending and control creates wealth. we know it doesn't, but yet, that seems to be the direction at least many on the left want to bring us down. >> alisyn: let's say the worst happens and let's say that the fiscal cliff, w
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